years. The interest rate is i(12) = 8.750%. What is the outstanding balance on the loan just after 453 payments? O a. $349.45. O b. $373.01. C. $392.64. O d. $325.89. e. $298.40.

In order to solve this question, would I use the compounded monthly formula and then subtract the balance between the difference?    36.   If $50,000 is borrowed for a home mortgage, to be repaid at 10% interest over 30 years, what is the remaining loan balance after 20 years? Assume monthly payments are made.   a.  $50,000b.  $42,957 c.  $32,590 D. $33,203e.  $20,651

Suppose you take out a loan for $7,000, at 12% ordinary interest. If the amount of interest is $672, what is the time period? (Round any fraction to the next higher day.) O280 days O 284 days 288 days O 292 days

Given below are the future value factors for 1 at 11% for one to five periods. Interest is compounded annually at 11%. Periods Future Value of 1 at 11% 1. 1.110 2. 1.232 1.368 1.518 5 1.685 What amount should be deposited in a bank account today to grow to $27400 three years from today? $27400 x 1.368 x 3 $27400 + 1.368 $27400 + 1.110 x 3 $27400 x 1.368 3. 4.

Suppose you invest $1,250 in an account paying 8% interest per year.   a. What is the balance in the account after 3​years? How much of this balance corresponds to​ "interest on​ interest"? b. What is the balance in the account after 31 ​years? How much of this balance corresponds to​ "interest on​ interest"?

You are told that a note has repayment terms of $1,700 per quarter for 6 years, with a stated interest rate of 8%. How much of the total payment is for principal, and how much is for interest? Calculate using (a) financial calculator or (b) Excel function PV. (Round answers to 2 decimal places, eg. 5,275.25.) Total payment for principal Total interest Determine if the total interest will be higher or lower than with an annual payment. The total interest will be than with an annual payment.

A deposit of $1300 will be after 3 years $1639. If the interest is compounded annually, what is the annual interest rate: a. 10.25% b. 8.02% c. 6% d. 8.5%

When $8,600 is invested in a savings account paying simple interest for the year, the interest, i in dollars, can obtained from the equation i=8,600r, where r is the rate of interest in decimal form. Graph i=8,600r, for r up to including a rate of 16%. If the rate is 7%, how much interest is earned? OA. $6,020 OB. $602 O C. $586 OD. $622 I

Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment. (Round your answers to the nearest cent.) Time Nominal Interest Compound Compound Principal Period (years) Rate (%) Compounded Amount Interest $5,100 8 quarterly Need Help? Read It

Calculate the maturity value of the simple interest loan. (Round your answer to two decimal places.) P = $2600, r = 8.8%, t = 5 months